Fulcrum Therapeutics (NASDAQ:FULC) Lowered to Underperform at Bank of America

Bank of America lowered shares of Fulcrum Therapeutics (NASDAQ:FULC) from a neutral rating to an underperform rating in a research note released on Thursday, MarketBeat Ratings reports. They currently have $2.00 target price on the stock, down from their previous target price of $10.00.

Several other equities analysts have also recently issued reports on FULC. HC Wainwright reiterated a buy rating and set a $17.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, August 1st. Cantor Fitzgerald cut Fulcrum Therapeutics from an overweight rating to a neutral rating in a research report on Thursday. Finally, Stifel Nicolaus cut Fulcrum Therapeutics from a buy rating to a hold rating and dropped their target price for the stock from $22.00 to $3.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $9.33.

Fulcrum Therapeutics Stock Down 7.6 %

Shares of FULC stock opened at $3.18 on Thursday. The stock has a market capitalization of $197.65 million, a PE ratio of -1.99 and a beta of 2.23. Fulcrum Therapeutics has a 52-week low of $2.87 and a 52-week high of $13.70. The stock’s 50-day moving average price is $8.41 and its 200 day moving average price is $8.26.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.93. The firm had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.00 million. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. During the same quarter in the previous year, the firm posted ($0.38) EPS. Analysts expect that Fulcrum Therapeutics will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fulcrum Therapeutics

Several institutional investors have recently modified their holdings of FULC. National Bank of Canada FI lifted its stake in Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after buying an additional 4,000 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Fulcrum Therapeutics in the 4th quarter valued at approximately $68,000. Profund Advisors LLC purchased a new stake in Fulcrum Therapeutics in the 2nd quarter valued at approximately $68,000. Renaissance Technologies LLC purchased a new stake in Fulcrum Therapeutics in the 2nd quarter valued at approximately $82,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Fulcrum Therapeutics by 66.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock valued at $112,000 after buying an additional 4,766 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Fulcrum Therapeutics Company Profile

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.